Employee Retention and Entrepreneurship

Hiring and keeping good employees is among the most important thing you can do as a business owner. According to the Rainmaker Group, at www.therainmakergroupinc.com, the cost of employee turnover can range from 1/2 to 4 times an employee's annual wages and benefits; 80% of turnover stems from mistakes during the hiring process; employee retention has as much to do with whom you hire as what you do after he or she is hired; and traditional methods provides only a 14% likelihood of a successful job hire. Rainmaker goes on to say, "an ineffective employee retention strategy can drive any manager crazy. The crippling effects employee turnover costs can have on your organizations efforts to consistently turn a profit only adds to the stress you are already under as a leader in your organization." (5/4/2008)

Everything I do is entrepreneurial. For my thoughts on entrepreneurial real estate, go to www.yourstopforrealestate.com/blog. For my notes and comments on publishing and writing fiction, go to www.kearneymusicschoolmurders.blogspot.com